The Euro weakened against the US Dollar on Tuesday, trading about 0.2% lower near the 1.1593 level during the European session, according to FX Street. This movement came after the currency pair rebounded from a recent low of 1.1573, following what was described as an excessive selloff.
United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann noted that despite the bounce, momentum remains subdued, with the EUR/USD expected to trade within an intraday range of 1.1595 to 1.1640. Resistance levels capped the rebound, limiting further upside in the near term.
For Japanese investors, the EUR/USD’s subdued momentum and tight trading range suggest cautious positioning amid ongoing global currency fluctuations, which could impact forex and equity market strategies.